#2948- Deed; QUIT-CLAIM DEED From City of South Bend to American Home Dreams, Commonly known as 313 and 317 Broadway - Part 2

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PZ)I,,Ck M. McMJho,,, P.E. Oireclor. Public Works CITY of SOUTH BEND PETER J. NEMETH. Mayor CUUNTy CITY 13UILOIfV , 5011V- BENO, INOIANA RGGGI December 3, 1979 Mr. Joseph T. Serge Chairman, Public Works Committee 441 County/City Building South Bend, IN 46601 RE: Sale of Surplus Properties at Michigan and Main Street Dear PIr. Serge: 219/284-9251 In response to your request for additional information pertaining to the proposed sale of certain properties at the Michigan -Main Connector to Mr. James Conboy as a result of his bid to the Board of $72,850, I offer the following. The City of South Bend, as you are aware, had to purchase certain pro- perties in order to clear the way for the construction of the Main - Michigan Connector. While there were a number of property owners affected, the two major transactions took place between the City of South Bend and (7) the Sheraton Hotel's holding corporation, and (2) the owner of the abandoned Freeway Gas Station property. In both cases, the City needed a portion of the lots affected, and had no use for the balance of those lots. 0n the attached sketch you trill find that the lots that were owned by the Sheraton holding corporation are numbered No. 166 and No. 167, the property that had been previously used for the gas station was Lot No. 157 and the north one-half of Lot No. 158. My initial intention was to purchase the gas station property and then "trade" the balance of the gas station property for what I needed from Lots No. 166 and 167. Unfortunately, the owner of Lots No. 166 and 167 refused to "trade" these properties, and the City was forced to purchase the total parcel in all cases. The City of South Bend then advertised the sale of both Parcel 'A' and Parcel 'B' (see map), at $5.50 per square foot, which was the price that I paid to purchase those lots. I assumed that the Town Tower rIA